Ukraine. M.V. Cargo to receive USD 37 million for grain terminal construction
IFC, a member of the World Bank Group, provides a USD 37 million loan to M.V. Cargo for a new grain terminal construction in the Black Sea port of Yuzhny. Cargill and the European Bank for Reconstruction and Development also became partners of IFC and M.V. Cargo in this project. Its total cost is about USD 150 million, reports UkrAgroConsult.
"Construction works in the port of Yuzhny have already begun. We plan to launch a new terminal in spring 2018. Now we are expanding the railway infrastructure and dredging. It is important for us to ensure the availability of deep ports for further Ukrainian grain exports increase. This project is one of the largest investments in Ukraine lately", - said the co-owner of M.V. Cargo, Andrey Stavnitser.
IFC financing will allow the company creating a modern terminal capable to handle up to 5 MMT of grain per year.